Deirdre Newman

Photo by NASA on Unsplash

Interest in electric cars is spiking as gas prices rise to their highest prices in years, but supply chain headaches and the lack of infrastructure such as charging stations are keeping the demand pent up. And, the longer-term effects on power grids will mean there will be lots to upgrade, even after the transition to cleaner technology, like electric vehicles, comes online.

Elevation Ventures, a new climate-focused venture firm in Orange County, is raising a $50 million fund to focus on technology that can provide new products and services. The fund will target seed-stage companies in SoCal, though it might also invest in a few Series A funding rounds. Check sizes will range from $500,000 to $3 million.

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Courtesy of Eyedaptic

A longtime executive at successful companies, Jay Cormier had been thinking about retiring in 2010.

At the time, Teridian Semiconductor, where he served as vice president and general manager, was acquired for $315 million. Cormier was working on a side project helping some entrepreneur friends with an augmented reality idea.

Around the same time, macular degeneration forced his grandmother into an assisted living facility.

That got him wondering whether AR could help the visually-impaired.

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